The market generally expects that the Fed will at least cut the benchmark interest rate by 25 basis points in mid-September. Previously, a weak August employment report showed that the number of new non-farm jobs was only 22,000, far below the expected 75,000, and the unemployment rate rose to 4.3%. Currently, the market expects a 92% probability that the Fed will cut rates by 25 basis points, and amid growing concerns about the weakness in the labor market, some analysts even believe that the Fed may further cut rates by 50 basis points.

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